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VW To Inject €2.5 billion into Hefei Base
CHINA REPORT
Jack Hao Facing intense competition in China’s new energy vehicle market, Volkswagen has decided to increase investment in its Hefei base. On April 11, Volkswagen announced an additional investment of €2.5 billion in its production and innovation center in Hefei to further strengthen its local R&D capabilities.
It has been reported that this investment will also be used to accelerate the development and production of two Volkswagen brand smart electric vehicle models co-developed with Xiaopeng Motors. Volkswagen revealed that the first model, a mid-size SUV, is planned to enter production in 2026.
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Hyundai-Kia and Stellantis Plan Different EV Strategies in India
INDIA REPORT
Aditya Kondejkar “India is a key market for vehicle electrification, particularly due to the government’s carbon neutrality goals, which makes securing cost competitiveness through localized battery production crucial,” Heui Won Yang, president and head of Hyundai Motor and Kia’s research and development division.
Source: Business Standard. Read The Article
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PowerTALK™, April 2024
Download PDFThe April 2024 issue of PowerTALK News presents another excellent report by analyst Guy Youngs on Alternate Power sources, an update on the OEM Van Hool, John Deere’s aggressive plans for expansion in Brazil, and an analysis of the market strategies being developed by two OEMs in the India market.
IN THIS ISSUE
ALTERNATIVE POWER REPORT
- Are Sodium Ion Batteries Viable Alternative to Lithium?
- New Hydrogen Colors to Watch in 2024 and Why They Matter
- Study Shows Plug-in Hybrids Aren’t as Clean as We Thought
- CATL, Yutong Launch Long-life EV Battery
GLOBAL: Lawn and Garden Equipment Market
DATAPOINT: North America Plate Compactor Production
EUROPE: A New Path for Van Hool
BRAZIL/SOUTH AMERICA:- John Deere Announces New Investments in Brazil
- Volvo To Begin Testing Heavy Trucks
JAPAN: Kubota Unveils First Fuel Cell Tractor
CHINA: VW To Inject € 2.5 billion into its Hefei Base
INDIA: Two EV Strategies for India Market -
Q1 2024 Power Systems Research Truck Production Index (PSR-TPI) falls 4.5%
Download PDFSt. Paul, MN (April 15, 2024)— The Power Systems Research Truck Production Index (PSR-TPI) decreased from 116 to 111, or 4.5%, for the three-month period ending March 31, 2024, from Q4 2023. The year-over-year (Q1 2023 – Q1 2024) PSR-TPI was flat at 111. There was no change.
The PSR-TPI measures truck production globally and across six regions: North America, China, Europe, South America, Japan & Korea and Emerging Markets.
This data comes from OE Link™, the proprietary database maintained by Power Systems Research.
All Regions. In 2024, Medium and heavy commercial vehicle production in Europe, South Asia and North America is expected to decline modestly while production in China, South America, Japan, and Korea is expected to improve over last year.
Global Index. Globally, medium, and heavy commercial vehicle production is expected to decline by 1.5% this year over 2023. Moving into 2024, much of the focus on demand will be centered around slowing global economic conditions that will impact overall freight demand. PSR
Jim Downey is vice president – global data products at Power Systems Research and Chris Fisher is the senior commercial vehicle analyst at Power Systems Research
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South American Truck Production Index Climbs 3.4%
Download PDFApril 16, 2024— The Power Systems Research South America Truck Production Index (PSR-TPI) increased from 88 to 91, or 3.4%, for the three-month period ending March 31, 2024 (Q1 2024), from Q4 2023. The year-over-year (Q1 2023 – Q1 2024) PSR-TPI increased from 75 to 91, or 21.3%.
The PSR-TPI measures truck production globally and across six regions: North America, China, Europe, South America, Japan & Korea and Emerging Markets. The South America TPI measures truck production in Brazil, Argentina and Columbia.
This data comes from OE Link™, the proprietary database maintained by Power Systems Research. PSR
Jim Downey is vice president – global data products at Power Systems Research and
Chris Fisher is the senior commercial vehicle analyst at Power Systems Research -
Alternative Power Report, April 2024
Download PDFThe April 2024 Alternative Power Report by Power Systems Research features several articles on batteries including one on sodium ion batteries as an alternative to Lithium Ion batteries, and another on the dropping cost of EV batteries. Hydrogen power sources show increasing promise, and there is an article on Chinese manufacturer CATL launching a battery pack with Yutong Bus Co to power commercial vehicles such as buses and trucks that has a 15-year warranty. PSR
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NA Plate Compactor Production
Download PDFPlate Compactors, also known as plate vibrators, are used to compact soils, base materials, sand beddings and pavers, to promote interlocking.
One key piece of equipment for almost all jobs is a plate compactor There are three main categories of plate compactors: a single plate, reversible plate and heavy-duty compactors, mostly used for soil and asphalt compaction. The most popular are reversible plate compactors because they can go in both directions (forward/backward).
This product information comes from industry interviews and from two proprietary databases maintained by Power Systems Research: EnginLink™ , which provides information on engines, and OE Link™, a database of equipment manufacturers.
Expect the production of Plate Compactors in NA to increase up to 10% by 2030. PSR
Carol Turner is Senior Analyst, Global Operations, at Power Systems Research
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PSR Is Looking Forward To INTERMAT 2024
PARIS—The 2024 edition of INTERMAT, the International Exhibition for Construction and Infrastructure, is coming up soon. The four-day show will be held at the Paris Nord Villepinte Exhibition Center 30 minutes from Paris April 24-27, and Power Systems Research will be there.
INTERMAT is a leading trade show that brings together close to 1,000 industry exhibitors from the construction and infrastructure sectors worldwide. It showcases the latest equipment, materials, innovations, and technologies in the global construction industry.
PSR team members will attend INTERMAT to gather information from exhibitors and attendees on the newest products and industry trends.
If you would like to meet with us at the show, please contact us to schedule a meeting.
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India EV Market Provides Opportunities and Challenges
INDIA REPORT
Aditya Kondejkar EDITOR’S NOTE: The 5th Annual TWF (Two Wheeler Forum) took place on Feb. 21 and 22, 2024, at the India International Convention & Expo Centre in Dwarka, New Delhi. Hosted in partnership with Trak N Tell, the event spotlighted aspects of the Indian two-wheeler and three-wheeler industry, spanning both electric and internal combustion engines.
The landscape of electric vehicles (EVs) in India is undergoing a transformative shift, with the recent 2 wheeler, 3 wheeler, and EV show held in Delhi showcasing the industry’s dynamic evolution. Despite constituting less than 1% of total vehicle sales, the electric vehicle sector holds immense potential, and is projected to grow to over 5% in the years to come. Currently, the Indian roads host over 5 lakh electric 2 wheelers and a modest number of electric cars. However, the market’s growth trajectory remains subject to fluctuations, predominantly influenced by governmental incentives.
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Electrification of China Construction Machinery Industry Accelerates
CHINA REPORT
Jack Hao The electrification of the construction machinery industry in China continues to accelerate. For example, CATAL and Longgong have signed a strategic cooperation agreement in Ningde, Fujian, a move that follows the January cooperation agreement between CATAL and Lingong Heavy Machinery. According to the agreement, both parties will expand cooperation in the development and production of construction machinery, the development of power batteries for construction machinery, and jointly research and develop adaptive products and market promotion to jointly explore the new energy construction machinery market.
More and more construction machinery companies are turning their attention to the electrification market. Domestic and foreign engineering machinery companies such as XCMG, Sany, Zoomlion, and Carter have developed and launched electric products such as loaders, excavators, and mixer trucks.
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